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A hull loss is an aviation accident that catastrophically damages the
A hull loss is an aviation accident that catastrophically damages the aircraft
An aircraft is a vehicle that is able to fly by gaining support from the air. It counters the force of gravity by using either static lift or by using the dynamic lift of an airfoil, or in a few cases the downward thrust from jet engine ...
beyond economical repair
The technical meaning of maintenance involves functional checks, servicing, repairing or replacing of necessary devices, equipment, machinery, building infrastructure, and supporting utilities in industrial, business, and residential installa ...
, resulting in a total loss
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effect ...
. The term also applies to situations in which the aircraft is missing, the search for their wreckage is terminated or when the wreckage is logistically inaccessible.
The metric of "Hull losses per 100,000 flight departures" has been used throughout the aviation industry to measure the relative risk of a given flight or aircraft. From 1959 to 2006, the first part of the mainstream jet aircraft era, 384 of 835 hull losses, or 46%, were nonfatal. Airline
An airline is a company that provides air transport services for traveling passengers and freight. Airlines use aircraft to supply these services and may form partnerships or alliances with other airlines for codeshare agreements, in wh ...
s typically have insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
to cover hull loss on a twelve-month basis. Before the September 11 attacks
The September 11 attacks, commonly known as 9/11, were four coordinated suicide terrorist attacks carried out by al-Qaeda against the United States on Tuesday, September 11, 2001. That morning, nineteen terrorists hijacked four commer ...
in 2001, the typical insured sum for a hull loss policy could reach $250 million.
Constructive hull loss takes into account other incidental expenses beyond repair, such as salvage, logistical costs of repairing non- airworthy aircraft within the confines of the incident site, and recertifying the aircraft, among other factors. Insurance policies covering any asset that is subject to depreciation
In accountancy, depreciation is a term that refers to two aspects of the same concept: first, the actual decrease of fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wear, and second, the ...
typically pay the insured a formulaic used item value, so the property will often be a write-off as full repairs minus this sum resemble a cost of a new replacement.
See also
*List of accidents and incidents involving commercial aircraft
This list of accidents and incidents involving commercial aircraft includes notable events that have a corresponding Wikipedia article. Entries in this list involve passenger or cargo aircraft that are operating commercially and meet this list ...
*Total loss
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effect ...
* Constructive total loss
References
{{reflist Aviation accidents and incidents